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For Immediate Release
August 28, 2009

For more information contact:
Larry Dyekman (312) 781-1372,
Karen Wuertz (312) 781-1335,

NFA bars Boca Raton firm, Pioneer Commodities LLC for misrepresentations

August 28, Chicago - National Futures Association (NFA) has permanently barred from NFA membership Pioneer Commodities LLC (Pioneer), an Introducing Broker located in Boca Raton, Florida. Pioneer's principal, Anthony S. Bobba, has been barred from NFA membership for a period of 24 months and from acting as a principal of an NFA Member for a period of 36 months. Bobba must pay a fine of $25,000 in the event that he reapplies for NFA membership after the 24 month bar. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in March 2009 and a settlement offer submitted by Pioneer and Bobba.

The Panel found that Pioneer and Bobba made misrepresentations to the Series 3 Examination testing service by requesting additional time for several of Pioneer's prospective associated persons (APs) to take the Series 3 Exam on the purported ground that English was not the primary language of these prospective APs. In truth, English was the primary language of many of these prospective APs. The Panel also found that Pioneer and Bobba failed to adequately supervise the firm's Series 3 training and the individual who provided the training. Pioneer and Bobba claimed that they simply accepted the trainer's word that English was not the primary language of the prospective APs for whom additional time was requested. The Series 3 is a proficiency exam that all individuals seeking NFA membership or registration as an AP must pass.

The complete text of the Complaint and Decision can be found on NFA's website (

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